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All capital restrictions have finally been lifted!

Απρ 6, 2015 | News

Monday 6 April 2015: ALL capital restrictions which were introduced two years earlier as a result of the Economic Adjustment Program for Cyprus agreed with the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Commission (EC) have...

Cyprus-Bahrain Double tax treaty

Μαρ 30, 2015 | News

On 9 March 2015, Cyprus and the Kingdom of Bahrain signed a double tax treaty (DTT) based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital with the aim to help attract foreign direct investment to...

Russian De-offshorization Rules and possible actions to be taken

Μαρ 30, 2015 | Articles

IntroductionThe de-offshorization law came into force on January 01, 2015. What the law says (in summary)1) Disclosure of foreign assets The Law provides for two types of disclosure notices:A) ASSET NOTICE: notification of an interest in any foreign organization if...

Tax confidentiality versus exchange of tax information

Αυγ 5, 2014 | Articles

IntroductionThe number of exchange of information agreements has increased dramatically in recent years. It is commonly accepted that the need of the governments to have effective tax administrations (i.e., that their taxpayers pay the right amount of tax in their...